Belgian Gambling Revenue Exceeds €1.7 Billion in 2023's Evaluation

In the vibrant year of 2023, Belgium's gambling market witnessed a staggering growth, raking in an impressive GGR of over €1.7 billion. This growth represented an impressive 16.74% increase compared to the previous year. The juicy pie was split between online gambling (55.48%) and offline gambling (44.52%).

The online gambling sector saw a surging 18.03% rise compared to the year prior, even surpassing its pre-pandemic levels. Online GGR was majorly controlled by casino websites, contribute a whopping 48.17%, followed closely by slots at 26.68% and online betting at 25.15%. On the other hand, offline gambling experienced a progressive 15.18% increase compared to 2022. Bingo machines and low-stakes games in cafes accounted for more than a third (35.75%) of the offline GGR, while slot rooms, betting, and casinos chipped in 24.40%, 21.40%, and 18.46%, respectively. Interestingly, betting, which had previously snatched the top spot during the pandemic, has now been pushed behind both bingo and slot machines in the offline realm.

Belgian casinos enjoyed a prosperous year, too, with their GGR surging by 18.74%. The online gambling sector within casinos recorded a particularly powerful growth of 20.17%. All physical casinos, apart from one, reported an increase in their GGR. Middelkerke casino showed the most impressive growth, while the Brussels casino remained the market leader, commanding a substantial 37.48% share.

The slot machines venues market also experienced expansion, achieving a record-breaking GGR of €436.9 million, a robust 17.29% increase compared to the previous year. The top ten largest slot machine venues comprised 16% of offline GGR, with Brussels leading in revenue per venue.

Sports betting saw an overall increase of 8.43% in GGR in 2023, driven majorly by online betting (+12.79%). Offline betting experienced a slight increase (+2.27%), but bookstores and betting agencies continue to grapple with challenges due to regulatory restrictions and the reduction in the number of licenses. This decrease in the number of player accounts, however, was partially offset by the growth in GGR.

As we peer into the future, the gambling market in Belgium is anticipated to continue its growth trajectory, following the global and European gambling market trends. The gambling sector is progressively embracing technological innovations, regulatory changes, and consumer acceptance, promising continued expansion. The adoption of new payment technologies and digital solutions in the region could also boost market growth opportunities.

Here's a sneak peek at what lies ahead:

The global gambling market is anticipated to grow robustly, reaching a valuation of approximately USD 1.4 trillion by 2030, with a compound annual growth rate (CAGR) of 4.5% over the 2024-2030 period.
Betting and lottery, key gambling segments, are expected to grow steadily, with betting growing slightly faster at around 5.5% CAGR during the same timeframe.
Belgium's gambling market is likely to align with the broader European trend of growth driven by digital transformation and regulatory stability, though estimation of local market size and CAGR for Belgium are not explicitly provided.
Innovations in digital payments and fintech integration may further fuel growth for Belgium's gambling sector.

If you're on the hunt for more precise local market details for Belgium, it's recommended to consult specialized regional market reports or local regulatory bodies. The future of gambling in Belgium is anything but dull, so buckle up and prepare for an exhilarating ride!

Extra Insights:The global gambling market is forecasted to grow exponentially from approximately USD 1.1 trillion in 2024 to about USD 1.4 trillion by 2030, at a compound annual growth rate (CAGR) of 4.5% over the 2024-2030 period [1]. Betting and lottery, critical gambling segments, are projected to grow steadily, with betting growing slightly faster at around 5.5% CAGR during the same timeframe [1]. Belgium's gambling market, as part of the Benelux region and the broader European market, is expected to follow these global trends, experiencing growth fueled by technological innovations, digital betting platforms, and regulatory stability [1]. The adoption of new payment technologies and digital solutions within the region could also spur growth in Belgium's gambling sector [2].

Despite the significant growth of online gambling, surpassing its pre-pandemic levels at 55.48% of the total GGR, offline gambling in cafes and casinos still earned a considerable 44.52% of the market share in 2023.
The GGR of slot machine venues in Belgium increased by 17.29% in 2023, proving that the offline gambling sector can also yield impressive results, with Brussels leading in revenue per venue.
While sports betting as a whole witnessed an 8.43% increase in GGR in 2023, the growth was primarily driven by online betting, which rose by 12.79%, demonstrating the ongoing shift towards digital platforms.
The Belgian gambling market, influenced by global trends, is predicted to expand due to digital transformation, regulatory stability, and increased adoption of innovative financial technologies, potentially reaching values comparable to the estimated USD 1.4 trillion global gambling market by 2030.